Treasury pledges £2m for SFO probe
The UK Treasury is expected to pledge special “blockbuster” funding to the Serious Fraud Office to back its investigation into Barclays’ emergency fundraising five years ago, in a sign of the agency’s escalating probe into the bank. The cash-strapped SFO, which launched a criminal investigation into the UK bank a year ago, is set to secure around £2m in special funding, the Financial Times has learnt.
Brussels tough on Monte dei Paschi
Brussels is demanding that Monte dei Paschi di Siena be subjected to tougher penalties before it approves the €3.9bn state bailout of Italy’s third-biggest bank by assets. The EU’s competition enforcer told Italy that the proposed restructuring plan for the 500-year-old lender is too soft on executive pay, cost-cutting and treatment of creditors, according to private correspondence seen by the Financial Times.
Twitter sees sense over trolls
Twitter is rolling out a “report abuse” button across the social media platform, after the woman who campaigned for Jane Austen to become the new face of the £10 note was bombarded with violent threats.
City analyst unfairly dismissed for age
One of the City’s best-known analysts suffered age discrimination by his employer and was unfairly dismissed, a tribunal has ruled. Tony Shiret, who for more than two decades has consistently been one of the top-rated retail analysts, is now in line for compensation for loss of earnings from Credit Suisse that is likely to run into seven figures.
Idle rigs pour cold water on boom
Oil and gas platforms in the North Sea are spending an average of 146 days a year idle.
The Daily Telegraph
Criteo spurns Europe for US flotation
One of Europe’s most successful technology firms, Criteo, has lodged it papers for an initial public offering in the US in September. The firm, which helps companies target their online advertising, filed its S-1 papers with America’s Securities & Exchange Committee last month, using a provision for fast-growing companies to keep the paperwork secret.
Heathrow to track customers
Passengers at Heathrow are being tracked through the airport to reduce delays to planes and help save airlines millions of pounds.
THE WALL STREET JOURNAL
Suntory targets acquisitions after IPO
With at least $5bn in the coffers for mergers and acquisitions, Nobuhiro Torii, the chief executive of Japan’s second-largest soft-drinks maker, is in charge of picking targets both at home and overseas following Suntory Beverage & Food’s $3.9bn initial public offering,
Wolverine tops weekend box office
Hollywood’s summer success with superheroes got declawed this weekend. The Wolverine, the latest instalment of the “X-Men” franchise, easily captured the top spot at the box office.